Wealthfront Advisers LLC Makes New Investment in Powell Industries, Inc. $POWL

Wealthfront Advisers LLC purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,084 shares of the industrial products company’s stock, valued at approximately $1,169,000.

Several other institutional investors have also made changes to their positions in the company. USA Financial Formulas acquired a new stake in Powell Industries in the first quarter valued at approximately $43,000. Greenline Wealth Management LLC acquired a new position in shares of Powell Industries during the 4th quarter worth $29,000. Hollencrest Capital Management acquired a new position in shares of Powell Industries during the 1st quarter worth $54,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Powell Industries by 183.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 105 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 68 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 63 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 33,958 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the completion of the sale, the insider owned 564,736 shares in the company, valued at $166,309,104.64. This represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett Alan Cope sold 4,440 shares of Powell Industries stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of the transaction, the chief executive officer directly owned 517,233 shares in the company, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,898 shares of company stock worth $12,353,653 in the last 90 days. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on POWL shares. Weiss Ratings cut shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Zacks Research lowered Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Cantor Fitzgerald reduced their price target on Powell Industries from $320.00 to $235.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. JPMorgan Chase & Co. upped their price target on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.42.

Powell Industries Trading Up 0.1%

NASDAQ:POWL opened at $197.67 on Friday. The firm has a market capitalization of $7.20 billion, a PE ratio of 37.94, a PEG ratio of 2.63 and a beta of 1.18. Powell Industries, Inc. has a 1 year low of $83.02 and a 1 year high of $328.00. The firm’s fifty day simple moving average is $239.55 and its 200 day simple moving average is $230.43.

Powell Industries (NASDAQ:POWL) last released its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The firm had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. During the same period in the prior year, the firm earned $3.96 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. As a group, analysts anticipate that Powell Industries, Inc. will post 5.36 EPS for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Powell Industries’s payout ratio is currently 6.91%.

Powell Industries Company Profile

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.